A powerful storm hit Istanbul on Thursday, bringing strong winds, towering waves, and widespread disruption to sea transport, and it also affected several other provinces across western Turkiye.Several videos are going viral on social media, and one of them shows a Pegasus flight aborting landing at Istanbul Airport due to severe weather. The flight could be seen losing balance and couldn’t move straight, forcing the pilot to abort the landing.Another video showed a strong lodos winds battered the area, rocking boats violently and creating rough, stormy conditions.Following warnings from the Turkish State Meteorological Service, gale-force winds began sweeping through Istanbul in the morning hours and intensified over the Bosphorus and the Marmara Sea, Hurriyet Daily News reported.In Besiktas, large waves slammed into the shoreline, creating hazardous conditions along the coast. Maritime operations were brought to a grinding halt as treacherous sea conditions made navigation impossible. Besiktas–Kadiköy passenger boat services were suspended, while some ferry lines announced multiple cancellations.In Bakirköy, a tree toppled onto four vehicles along the coastal road, forcing a lane to close temporarily. In Bahçelievler, another fallen tree injured a pedestrian, who was reported to have sustained minor injuries.According to official data, wind speeds exceeded 70 kilometres per hour in some districts.Beyond Istanbul, severe weather battered the broader Marmara and Aegean regions. In the northwestern province of Çanakkale, strong winds forced the temporary suspension of transit ship traffic through the Dardanelles and several ferry services were also cancelled. In the neighbouring province of Edirne, heavy rainfall caused localised flooding. Fishermen in the western city of Izmir remained in port due to rough seas, carrying out maintenance work while waiting for conditions to improve.The storm also reached the Black Sea coast, with severe winds causing trees to topple and block roads in Samsun.

Captain Brandon Fisher, the pilot of Alaska Airlines Flight 1282, has filed a $10 million lawsuit against Boeing. He alleges the company wrongly blamed him and his first officer for the door plug blowout that forced an emergency landing in January 2024. The lawsuit was filed on December 30, 2025, in an Oregon court and relates to a Boeing 737 MAX 9 aircraft.In court filings tied to a separate passenger class-action lawsuit, Boeing denied liability for the blowout. The company argued the aircraft may have been “improperly maintained or misused by persons and or entities other than Boeing.” Fisher’s lawyers say this language effectively shifted blame onto the flight crew despite the lack of evidence against them.

Boeing’s role in the Flight 1282 door plug blowout

The incident occurred on January 5, 2024. Flight 1282 suffered a door plug panel blowout shortly after take-off from Portland. The aircraft was flying at about 16,000 feet and had 177 people on board. Fisher and first officer Emily Wiprud landed the plane safely back in Portland.Investigators later found that bolts meant to secure the door plug panel were missing. The aircraft had undergone factory repairs linked to parts supplied by Spirit AeroSystems. The work was not properly documented and no inspection followed. Investigators said the evidence pointed to manufacturing and quality control failures rather than pilot error.

Claims of blame shifting

Fisher alleges Boeing’s legal position contradicted its earlier public statements. After the incident, the crew received praise from regulators, the airline and company officials for landing the aircraft safely. The lawsuit argues that Boeing later reversed course in court to protect itself from liability.Fisher says the statements caused emotional distress and harmed his reputation. He says he became the target of passenger lawsuits and public criticism. The lawsuit seeks $10 million in damages.

The investigation and next steps

The door plug failure remains under investigation by federal authorities, including the National Transportation Safety Board. Boeing has declined to comment on Fisher’s lawsuit, citing ongoing litigation. Alaska Airlines thanked the flight crew for their actions but did not address the legal claims. Spirit AeroSystems is also named as a defendant.The case is pending in Multnomah County, Oregon. No trial date has been announced.

A wide-ranging collection of Steve Jobs’ childhood belongings and some of Apple’s earliest products has gone up for auction as the company approaches its 50th anniversary on April 1, 2026. The sale is being handled by RR Auction, which has opened bidding on 191 items spanning Jobs’ early life and Apple’s formative period in the mid-1970s.

The first Apple check and early hardware

Among the centrepieces of the auction is the first known cheque issued by Apple Computer, Inc. on March 16, 1976. Signed by Steve Jobs and Steve Wozniak, the $500 cheque was made out to Howard Cantin, who designed the printed circuit board for the Apple-1 computer. The document predates Apple’s official incorporation and is described by the auction house as a foundational artefact from the company’s earliest days.

Also drawing strong interest is the earliest known prototype motherboard for the Apple-1, alongside other rare hardware from Apple’s pre-Macintosh era. Early bidding has already pushed some items into the tens of thousands of dollars, with expectations that final prices could climb far higher.

Rare Apple devices from different eras

The auction also includes a functional Lisa-1 computer, a key transitional machine that preceded Apple’s Macintosh line, as well as a first-generation iPhone that was later jailbroken by teenage hacker George Hotz. Together, the items trace Apple’s evolution from a garage-based start-up to a consumer electronics giant.

Steve Jobs’ childhood belongings

Adding a more personal dimension, the collection features items from Jobs’ childhood and teenage years, provided to the auction house by his stepbrother, John Chovanec. These include bowties, Bob Dylan 8-track tapes, and the wooden desk from Jobs’ bedroom at the Los Altos, California home later associated with the famed “Apple garage”.Other personal effects include components from Jobs’ own Apple-1 computer, hand-annotated car repair manuals, and a short handwritten note to his father on an early Apple business card.

Posters, paperwork and early marketing

Rounding out the auction are original Apple marketing posters from the 1970s and 1980s, along with internal documents and ephemera from the company’s earliest phase. Together, the items offer a rare, material record of Apple’s origins and the personal world of its co-founder.Bidding for the collection is open until January 29, with interest expected to grow as the anniversary year approaches.

India’s Ruturaj Gaikwad (PTI Photo/Kunal Patil)

Ruturaj Gaikwad delivered one of the finest List A knocks of the season on Thursday, producing a composed yet commanding 134 off 131 balls in the Vijay Hazare Trophy and rewriting several records along the way. It was an innings built on patience, timing and authority, and one that once again underlined why Gaikwad continues to be rated among India’s most consistent domestic performers.𝗠𝗼𝘀𝘁 𝗵𝘂𝗻𝗱𝗿𝗲𝗱𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗩𝗶𝗷𝗮𝘆 𝗛𝗮𝘇𝗮𝗿𝗲 𝗧𝗿𝗼𝗽𝗵𝘆15 – Ruturaj Gaikwad (57 inngs)*15 – Ankit Bawne (94 inngs)13 – Devdutt Padikkal (36 inngs)13 – Mayank Agarwal (79 inngs) With this century, Gaikwad drew level with Ankit Bawne for the most hundreds in Vijay Hazare Trophy history. Both now sit on 15, but the context makes Gaikwad’s achievement stand out. He reached the mark in just 57 innings, while Bawne needed 94. The Maharashtra batter’s ability to convert starts has been a defining feature of his career, and Thursday’s knock was another example of that trait.

The innings also carried a milestone of even greater significance. Gaikwad became the fastest player in professional List A cricket to score 20 centuries, achieving the feat in just 95 innings. No other batter has reached 20 List A hundreds in fewer than 100 matches. The previous benchmark of 129 innings was jointly held by Mayank Agarwal and Khurram Manzoor, while modern greats like Babar Azam and Virat Kohli took 131 and 143 innings respectively to get there.𝗕𝗲𝘀𝘁 𝗯𝗮𝘁𝘁𝗶𝗻𝗴 𝗮𝘃𝗲𝗿𝗮𝗴𝗲 𝗶𝗻 𝗟𝗶𝘀𝘁-𝗔 𝗰𝗿𝗶𝗰𝗸𝗲𝘁 (𝗺𝗶𝗻 𝟱𝟬 𝗶𝗻𝗻𝗴𝘀)58.83 – Ruturaj Gaikwad 57.86 – Michael Bevan 57.76 – Sam Hain57.67 – Virat Kohli 57.01 – Cheteshwar Pujara Gaikwad’s consistency is reflected not just in his centuries but also in his numbers across formats. He currently boasts the best batting average in List A cricket among players with at least 50 innings, sitting at an impressive 58.83. That places him ahead of names such as Michael Bevan, Sam Hain, Virat Kohli and Cheteshwar Pujara, a list that highlights the quality of company he now keeps. Against Goa, Gaikwad’s knock was both fluent and controlled. He struck eight fours and six sixes, anchoring the Maharashtra innings as they posted 249 for 7. The match went down to the wire, with Maharashtra eventually clinching a tense three run victory. During the course of the innings, Gaikwad also became the fastest batter to complete 5,000 List A runs, adding another landmark to an already memorable day. Despite his growing list of achievements, Gaikwad was a surprise omission from India’s squad for the upcoming three match ODI series against New Zealand in January. The exclusion came shortly after he scored his maiden ODI century against South Africa in December 2025, making the decision even more puzzling for many observers. At 29, Gaikwad finds himself at a crucial phase of his career. His domestic numbers continue to make a strong case for sustained opportunities at the international level, while his leadership credentials are also on the rise. He is set to lead Chennai Super Kings in the IPL 2026 season, a role that reflects the trust placed in him by the franchise.

The National Stock Exchange (NSE) is in discussions with the Indian Gas Exchange (IGX) to develop and launch Indian natural gas futures, an initiative aimed at strengthening the country’s natural gas market ecosystem, PTI reported.The proposed futures contract is expected to provide market participants with a transparent, efficient and robust risk management tool aligned with India’s evolving natural gas pricing framework, the exchange said.The collaboration seeks to combine NSE’s experience in the derivatives market with IGX’s role in spot natural gas trading, price discovery and physical market development. Once launched, the contract is expected to benefit gas producers, city gas distribution companies, power generators, fertiliser manufacturers, industrial consumers, traders and financial participants by enabling effective hedging against price volatility and supporting long-term planning.“The proposed collaboration with IGX marks a significant step in NSE’s efforts to deepen India’s commodity derivatives markets,” said Sriram Krishnan, Chief Business Development Officer of NSE.According to him, natural gas is emerging as a critical transition fuel in India’s energy mix, and a domestic futures contract would enhance price transparency, strengthen risk management capabilities and help build a credible gas price benchmark aligned with Indian market fundamentals.“By leveraging NSE’s market infrastructure and IGX’s physical market expertise, we aim to create a futures product that is relevant, liquid and trusted by the entire gas value chain,” Krishnan added.Subject to regulatory approvals, NSE and IGX will work with stakeholders to ensure a smooth launch of the proposed derivatives contract. Further details on contract design and timelines will be announced in due course, the exchange said.

A local walks past a mural featuring oil pumps and wells in Caracas, Venezuela, Tuesday, Jan. 6, 2026. (AP Photo/Matias Delacroix)

When US President Donald Trump floated the idea of Washington receiving millions of barrels of oil from Venezuela, it sounded like a throwback to an older energy playbook: pump more oil, cut fuel prices, make voters happy. The reality is far messier.

What is being proposed?

The plan being discussed involves the US receiving 30–50 million barrels of Venezuelan crude, alongside American investment to help revive Venezuela’s oil production. That oil would then be sold on global markets, adding supply and, in theory, keeping prices low.The timing matters. Oil prices are already under pressure globally, and petrol prices have eased after years of inflation-driven pain. The Venezuela pitch is being sold as a way to lock that relief in.

Why Venezuela still matters

Venezuela holds the largest proven oil reserves in the world. On paper, it should be an energy superpower. In practice, years of mismanagement, sanctions, and infrastructure collapse have hollowed out its industry.The state oil company, PDVSA, has struggled to maintain wells, pipelines, and refineries. Skilled workers have fled. Equipment is outdated. Even modest production increases take time, money, and political stability, all of which are in short supply.

Does more Venezuelan oil mean cheaper fuel?

Not automatically. Oil prices are set globally, not bilaterally. Even tens of millions of barrels spread over months are small in a market that consumes roughly 100 million barrels a day worldwide. Venezuelan oil would add to supply at the margins, not overwhelm the system.Prices are already low largely because of global oversupply and cautious demand, including production decisions by OPEC. Venezuelan barrels might help keep prices soft, but they are unlikely to be the main driver.

The domestic cost for the US

Cheap petrol is good politics, but it comes with trade-offs.Lower oil prices squeeze US shale producers, many of whom operate close to break-even. Prolonged weakness risks layoffs, stalled drilling, and reduced investment in oil-heavy regions such as Texas and North Dakota.Unlike in the past, the US is now a major oil producer and exporter. That means falling prices no longer deliver an unambiguous economic win. Gains for consumers increasingly cancel out losses in the energy sector.

Can Venezuela actually deliver?

This is the biggest uncertainty. Venezuela has repeatedly overpromised and underdelivered on production targets. Power shortages, decaying infrastructure, regulatory uncertainty, and political risk remain structural obstacles. Any agreement is also vulnerable to sanctions enforcement, legal challenges, and shifts in US or Venezuelan politics.

A macaw stands on a decorative oil drill in Caracas, Venezuela, Tuesday, Jan. 6, 2026. (AP Photo/Matias Delacroix)

Even with fresh investment, Venezuela cannot rapidly ramp up production at a scale that reshapes global markets.

The takeaway

Venezuela may help keep oil markets loose at the edges, but it is not a magic lever for cheap gas. Fuel prices today are low because of global dynamics, not because Caracas is back as an energy heavyweight.For consumers, relief may last. For US oil producers, pressure is building. And for Venezuela, the promise of an oil-fuelled revival remains far more aspirational than assured.

The weapons and military units on display in China’s major parade (Image credit: AP)

China, one of the world’s largest arms exporter, has endured a series of humiliating battlefield exposures that have shattered its image as a supplier of reliable defence systems. From Operation Sindoor‘s rout of Pakistani defenses to the swift US raid on Venezuela, Chinese systems repeatedly crumbled under pressure, amplifying doubts among global buyers.The US operation in Venezuela’s capital not only led to the capture of President Nicolás Maduro and his wife, but dealt a severe reputational blow to Beijing, underscoring Washington’s continued technological superiority over Chinese-supplied military equipment, according to a Taiwanese official, Newsweek reported.During Operation Sindoor in May last year, Indian forces systematically targeted and neutralised key Pakistani military and terror infrastructure, repeatedly penetrating Chinese-supplied air defence systems such as the HQ-9, which failed to intercept incoming missile attacks, including strikes by the BrahMos.In Venezuela, America’s EA-18 Growlers reportedly played a crucial role in the mission by deploying advanced electronic jamming and communications-disruption capabilities. The Growler is a carrier-launched electronic warfare aircraft built not for delivering ordnance, but for controlling the electromagnetic battlefield. During the Venezuela operation, it formed part of a large US aerial force that disabled China-supplied radar and communication networks, enabling special forces aircraft to move into and out of Venezuelan airspace with speed and minimal resistance.

Venezuela defence system: ‘Full of flaws, slow to react’

Venezuela’s Chinese JY-27A radar — hyped by Beijing as a stealth-killing powerhouse capable of spotting low-observable jets like the F-35 — suffered a catastrophic flop during the US raid, as reported by the Washington Times. Sold to Caracas as cutting-edge tech, the system proved riddled with flaws, agonisingly slow to react, and utterly blind to American stealth incursions.The radar’s complete failure has left Beijing red-faced. The system is central to China’s air-defence ambitions, intended to counter advanced US platforms such as the F-35 and F-22 fighter jets, as well as B-2 and next-generation B-21 stealth bombers.The Maduro government also invested roughly $2 billion on Russian S-300 air defence missile systems, along with associated radar and communication networks that were integrated with China’s JY-27A radar. Russia also supplied the Pantsir-S1, a combined gun-missile air defence system designed to counter drones and low-flying helicopters — the very types of platforms that breached Venezuelan airspace during the operation.“None of them fired. Not one,” said online military analyst Shanaka Anslem Perera, as quoted by the Washington Times.The US operation lasted less than three hours, during which elite military units, including Delta Force, captured Maduro and his wife from their fortress compound in Caracas, airlifted them to a US warship, and later flew the couple to New York.Some Chinese analysts, however, contended that the US was operating against a far weaker opponent, suggesting the mission was not necessarily indicative of how such capabilities would perform against major powers, South China Morning Post reported.

Operation Sindoor

Pakistan gets nearly 82% of its defence imports from China. Operation Sindoor exposed serious vulnerabilities in Beijing’s weapons when pitted against Indian and Western systems.The most visible failures were in Pakistan’s Chinese-made air defence and missile systems. Assessments indicated that the HQ-9 and HQ-16/LY-80 air defence units were ineffective against Indian aircraft and missiles, even around sensitive military installations. The PL-15 beyond-visual-range air-to-air missile, promoted as a rival to advanced Western systems, reportedly malfunctioned or failed to hit targets, with Indian officials later displaying fragments of a recovered PL-15 missile that had landed without striking anything. Chinese-supplied fighter jets such as the J-10C and JF-17 Block III also failed to significantly challenge Indian air operations, despite unverified claims of aerial successes.Together, these failures have reinforced longstanding concerns about the reliability and combat effectiveness of Chinese military exports, damaging China’s credibility as an arms supplier and opening space for rivals, including India, to emphasise proven performance in real combat conditions.Also read: How Op Sindoor exposed pattern of failures, underperformance by Chinese weapons systems

Organizations should do a comprehensive review across HR, finance, payroll and legal functions. (AI image)

New Labour Codes explained: After rolling out our new labour codes in last November 2025, the government has now published the draft rules, inviting public feedback within stipulated timelines up to February 14, 2026, and January 30, 2026 for the Industrial Relations Rules. These draft rules are important because they outline several key provisions that cover wage definitions for gratuity, overtime payout criteria, rest days, contract labour conditions, grievance redressal mechanisms, compliance obligations for firms, need for appointment letters, employee benefits, standing orders across sectors and the creation of a worker re-skilling fund. According to EY, in response to the rules, organizations should do a comprehensive review across HR, finance, payroll and legal functions, supported by impact assessments and policy revisions, to align with the new labour law framework.

Result of Rationalizing Labour Laws

New Labour Codes: What Do The Draft Rules Clarify?

The biggest clarification that comes from the release of the draft rules is on the definition of wages. The calculation of wages is important since this is what decides the gratuity amount received by individuals when leaving their jobs.According to the draft rules, wages cover:All remuneration whether by way of salaries, allowances or otherwise payable to a person employed. This includes: Basic pay, Dearness allowance, Retaining allowance, if any If the payments/allowances other than Basic pay, Dearness allowance and Retaining allowance exceed 50% or such percentage as notified of all remuneration, then amount exceeding 50% or such percentage as notified shall be added in the ‘Wages’What is the 50% rule for allowances?If the allowances and benefits together (except gratuity and retrenchment compensation) exceed 50% of the all remuneration, the excess amount shall be added back to wages. This added amount shall be treated as wages for statutory purposes. Leave encashment is not a part of allowances.Let’s understand the allowance rule with the help of an example:

As per the Code on Social Security, 2020, gratuity has to be calculated based on the rate of “wages” last drawn by the employee. The rules clarify that for the purpose of determination of gratuity, the exclusions from ‘wages’ shall also include any payment payable on an annual basis, that is linked to performance or productivity of an employee or of the establishment in which he/she is employed and is not part of the remuneration payable under the terms of employment.

FAQs on New Labour Codes

Additionally, the following shall not form part of the ‘wages’ –

However, according to an EY analysis, the rules are yet to clarify if such components will be covered within the 50% limit on exclusions in the definition of ‘wages’. When is gratuity payable?Gratuity shall be payable in following events:

How is gratuity calculated?The calculation is simple: for every completed year of service or part thereof in excess of six months: 15 days’ wages per year (or such number as notified by Central Government) based on the rate of wages last drawn. The maximum gratuity is as notified by the central government which is currently Rs 20 lakh.Weekly offs or rest daysEmployees will be entitled to at least one ‘rest day’ per week. The employee shall not be required or allowed to work on the rest day unless they have a substituted rest day for a whole day on one of the working days in a week immediately before or after the rest day. No substitution can be made which will result in the employee working for more than ten days consecutively without a rest day for a whole day, the new rules say.Appointment letter rulesA letter of appointment has to be issued to all employees in an establishment within 3 months of the new labour rules coming into force.Overtime rules:Workers will be entitled to overtime pay, if certain work hour criteria are met. As per the Occupational Safety, Health and Working Conditions (OSHWC) Rules, if a worker works for more than 8 hours in any day as daily wager in an organisation, or for more than 48 hours in any week, they shall be entitled to wages at the rate of twice his rate of wages for the extra time and shall be paid at the end of each wage period. Accordingly, ‘workers’ shall be entitled to overtime for working beyond 48 hours in a week (without any daily working hour limit for applicability of overtime). Labour codes: New Benefit RulesWomen working after 7 PM: There are rules for employment of women in night shifts (i.e., after 7 PM and before 6 AM) – written consent of women employees is required and a pick and drop transport facility is mandatory. Medical medical examination: Every employer of a factory, dock, mine, building & other construction work has to ensure free of cost medical examination for every employee annually. This has to happen within 120 days from the commencement of the calendar year for those who have completed 40 years of age. An employer may avail facility for medical examination of the employee (s) under relevant rule of Social Security Code Rules, 2025 through Employees’ State Insurance Corporation (ESIC). Creche allowance: The employer and negotiating union/council or majority of employees of the establishment (in the absence of negotiating union/ council) can enter into agreements for provision of creche facility in the establishment and if not provided, then for pay creche allowance, which shall not be less than Rs 500 per month per child. Journey allowance to inter-state migrant workers: The employer has to pay a journey allowance to inter-state migrant workers once in 12 months for a to & fro journey from the place of employment to the place of residence. Worker re-skilling fund Any employer who retrenches a worker(s) has to transfer an amount equivalent to 15 days last drawn wages of such worker(s), within 10 days of such retrenchment, in an account to be maintained by the prescribed labour commissioner.The fund received from the employer can be electronically transferred by the labour commissioner to the account of the retrenched worker(s) within 45 days of retrenchment to enable the worker(s) to utilize the amount for re-skilling. Engagement of contract labour Employment of contract labour in core activities of an establishment is not allowed, subject to exceptions. As per the OSHWC Rules, the Joint Secretary to the Government of India, Ministry of Labour & Employment (‘MoLE’) is empowered to pass an order on the question whether an activity classifies as a core activity or not. Other conditions with respect to engagement of contract labour include:

Compliance requirements

Grievance redressal rulesEvery industrial establishment that employs 20 or more workers has to set up a grievance redressal committee that will look to resolve disputes that arise out of individual grievances. The OSHWC Rules introduce a provision for setting up a separate grievance redressal mechanism for contract labour for redressal of grievances related to health, working conditions and wages. The grievances may be submitted at the level of the principal employer. In addition, every establishment employing 500 or more workers has to constitute a safety committee in the prescribed manner and shall consist of an equal number of members representing the employer and the workers, which shall not exceed 20. What do the new rules mean for organizations: According to an EY analysis, while the rules pre-published by the government under labour codes have introduced some significant changes to promote ease of doing business and simplify compliance, it is essential for organizations to thoroughly assess the implications of these changes. It recommends the following points for organisations to take note of:

Way forward